Management Change/Compensation Form 8 K

On September 17, 2024, the Board of Directors of Rhinebeck Bank, the wholly owned subsidiary of Rhinebeck Bancorp, Inc., provided notice of non-renewal to each of Michael J. Quinn, President and Chief Executive Officer, and Jamie J. Bloom, EVP, Chief Operating Officer & Chief Banking Officer, under each individual's Amended and Restated Employment Agreement. As a result of such non-renewals, the term of each agreement will expire on December 31, 2026. The decision not to renew the agreements is part of a broader change in corporate philosophy aimed at normalizing the terms of employment-related contracts and does not reflect the individual's performance evaluation or anticipated management changes.